Home Altcoin Little-Identified Altcoin Ravencoin ($RVN) Surges on New Binance Announcement – CryptoGlobe

Little-Identified Altcoin Ravencoin ($RVN) Surges on New Binance Announcement – CryptoGlobe

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A brand new announcement from main cryptocurrency trade Binance has helped the value of a little-known cryptocurrency, Ravencoin ($VN), surge. The transfer comes throughout a cryptocurrency bear market that has seen Bitcoin ($BTC) drop to a $15,000 low.

After the Ethereum mainnet merged with Ethereum’s Beacon Chain to finish the widely-anticipated Merge improve on September 15, the second-largest cryptocurrency by market capitalization moved to a Proof-of-Stake consensus protocol, which led to surging curiosity in different digital belongings.

As mining {hardware} is not usable on the Ethereum community, cryptocurrencies suitable with Ethereum’s mining algorithm have seen curiosity in them surge. These embrace Ethereum Traditional, which is seen because the “authentic” Ethereum blockchain that was forked after the 2016 DAO hack, and Ravencoin.

In a stunning announcement Binance Pool, the mining pool run by main cryptocurrency trade Binance, introduced it might add assist for Ravoncoin mining. The announcement reads:

Binance Pool has formally launched the RavenCoin (RVN) mining service, which makes use of the PPS+ settlement methodology. Mining charges for the RavenCoin (RVN) mining pool are set at 1%.


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Ravencoin is a cryptocurrency constructed on a fork of the Bitcoin code. It provides further options designed to permit people to situation tokens on its blockchain, and RVN must be burnt on the community to situation belongings on the blockchain.

Binance’s announcement helped the cryptocurrency’s worth soar by almost 10% in simply 24 hours to commerce at $0.02 per token. The cryptocurrency’s market capitalization is now round $250 million.

As CryptoGobe reported on the time, Ethereum Classic’s hashrate notably jumped round 300% from round 66.5 TH/s earlier than the Merge to round 270 TH/s after the improve, as miners whose tools not works for Ethereum turned to the community. Equally, $RVN noticed its hashrate surge 51% after the Merge.

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